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Upgrade Alert for Clayton Williams Energy (CWEI)

By David Diaz

Clayton Williams Energy (NASDAQ:CWEI) was upgraded from Underperform to Market Perform at Raymond James today. The stock closed yesterday at $37.20 on volume of 718,000 shares, above average daily volume of 588,000.

Clayton Williams Energy, Inc. and its subsidiaries explore for and produce oil and natural gas. The Company's activities are primarily located in Texas, Louisiana, and other southern states.

Potential upside of 22.6% exists for Clayton Williams Energy, based on a current level of $37.20 and analysts' average consensus price target of $45.60. Clayton Williams Energy shares have support at the 200-day moving average (MA) of $33.82 and additional support at the 50-day MA of $13.73.

Clayton Williams Energy share prices have moved between a 52-week high of $73.15 and a 52-week low of $6.35 and closed yesterday at 486% above that low price at $37.20 per share. The 200-day and 50-day moving averages have moved 1.64% lower and 2.86% higher over the past week, respectively.

SmarTrend recommended that subscribers consider buying shares of Clayton Williams Energy on June 20th, 2016 as our proprietary SmarTrend analytics indicated a new Uptrend was in progress when shares hit $26.30. Since that recommendation, shares of Clayton Williams Energy have risen 45.4%. We continue to monitor CWEI for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: analyst upgrades/downgrades clayton williams energy

Ticker(s): CWEI